Monopoly firms may have economic profits in the long run.

Name: Monopoly firms may have economic profits in the long run.
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Question

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Monopoly firms have the ability to enjoy economic profits in the long run due to their market power, which allows them to set higher prices and limit competition. However, government regulation and new entrants into the market can eventually erode these profits.

Monopoly Firms May Have Economic Profits in the Long Run